The State Bank of Pakistan has announced new monitory policy reducing interest rate from 9.5 to 8.5 per cent.

The State Bank Governor Ashraf Wathra told a news conference in Karachi that inflation rate is also coming down due to reduction in oil prices in the market. He said inflation rate recorded at 6.1 in the first six months was reduced to 4.3 per cent during last month.

He expressed the confidence that the momentum of growth in agriculture sector witnessed during last financial year would continue to grow during current fiscal year.


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